'Market value', in relation to any assets, means the price which those assets might reasonably be expected to fetch on a sale in the open market1. Where an estimate of market value has assumed that the whole of the assets is to be placed on the market at one and the same time, no reduction is to be made on that account2. This meaning of 'market value' is similar to that used in the former provisions for establishing the principal value of property for estate duty purposes3 and the value of property for inheritance tax purposes4. The principles established
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